Posted 12 hours 11 min ago by Xin Lu
A couple months ago I wrote about the pros and cons of extending and expanding the popular first time homebuyer tax credit which was due to expire on November 30th, 2009. I wrote that there was a good chance that Congress would extend the credit regardless of the costs. Sure enough, this week Congress has approved an extension and expansion of the credit. Here are some details on the changes.
Posted October 9, 2009 - 08:00 by Stacy Johnson
For those who have a job, a healthy savings account and some optimism about the long-term, it doesn’t get any better than this. Opportunity in the form of lower prices doesn’t knock all that often: if you have the wherewithal, my advice is to answer the door.
Posted October 7, 2009 - 05:33 by Xin Lu
Lately several couples I know have been trying to purchase real estate, and it seems that none of them are too happy with their real estate agents. Some of them have been working with their agents for months without any positive outcome. The fact is that some of these poorly performing agents should have been fired long ago. Here are some signs that you should fire your real estate agent.
Posted September 15, 2009 - 06:00 by WC Porter
Real estate websites are a dime a dozen, but when you find one that does it all, the rest all fade into the background. Whether you're looking to buy or sell a place, Redfin has what you need. This detailed walk through shows you everything you need to know before surfing their site.
Posted August 3, 2009 - 08:00 by Nora Dunn
Let’s say the real estate markets are down. You want or need to sell your home, but buyers won’t pay what it is worth (or even enough to leave you with a zero balance). And if you have already purchased your new home, you may have to insist on a sale price that the market won’t bear, or settle for a sale price that leaves you further in the red. There is an alternative: a Permanent Home Swap.
Posted July 21, 2009 - 08:25 by Xin Lu
If you are in the process of buying a new primary residence or second home, or considering refinancing a loan, a new set of federal consumer protection rules taking effect on July 30th, 2009 may affect you. These rules are a part of the Mortgage Disclosure Improvement Act of 2008, and they are designed to give consumers more disclosure of the cost of a loan and also more time to make a decision.
Posted July 2, 2009 - 12:04 by Xin Lu
When the Obama administration first announced the details of the Making Home Affordable program in March, the guidelines for the refinance portion stated that the loan refinanced cannot be more than 105% of the value of the home. Now a new expansion of the program allows the loan to value ratio to be up to 125%. Will this help consumers or just worsen the situation?
Posted June 30, 2009 - 13:34 by Xin Lu
On May 1st a new set of home appraisal rules called the Home Valuation Code of Conduct was put into effect by Fannie Mae and Freddie Mac in order to distance realtors and mortgage brokers from appraisers. This was put in place because during the housing bubble appraisal fraud was rampant and some appraisers felt pressured by realtors and brokers to hit the desired numbers. How is this affecting consumers?
Posted June 9, 2009 - 20:38 by Xin Lu
As part of the Obama stimulus plan passed in January, first time home buyers in 2009 are entitled to a tax credit of up to $8000 that they do not have to repay. This tax credit was supposed to be given to the taxpayer after they file their 2009 taxes in 2010, but it seems that a new set of FHA guidelines is allowing many to take the money during closing. Here are some of the details.
Posted May 7, 2009 - 12:50 by Xin Lu
Amidst the financial crisis, many home builders around the country have run out of financing. Last week a bank decided to completely level 16 completed and partially built homes in Victorville, California because the builder defaulted on the project. While this is unfortunate, some bargain hunters were able to pick up some extremely cheap construction materials and home fixtures.
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